FTC - FinTech Chain

[barney]

Just a bit? Crikey, it's up another 66.67% to 16c today. Some wild swings on this little puppy. Too volatile for my liking but fun to watch all the same.

One thing is for sure, there will be some big winners and big losers out of the recent price action. It's a bit like watching the roulette wheel at the casino.

Just thinking the exact same thing …..

If my quick number checking is correct, they have about $1.5 million in the bank.

Their Quarterly suggests their product costs and wages basically cancel out their current income.

However the Contract just established will gross them around $37,000 US per day (0.02% X 9,000,000RMB)

If they establish more Contracts, the business may generate a fair amount of Gross Income, but I have no idea how to assess the current SP rise

More Volume today so maybe it has some legs ….. I'll stay seated however

 

[Smurf1976]

One thing is for sure, there will be some big winners and big losers out of the recent price action. It's a bit like watching the roulette wheel at the casino.

Down 12.82% today.

 

[greggles]

Down 12.82% today.

And she's up another 17.60% this morning to 20c after the company released an update about the continuing rollout of T-Linx:

ASX ANNOUNCEMENT

T-Linx rollout reaches Tianshan Rural Credit Bank

24 April 2019 (ASX: FTC)

FinTech Chain Limited (FTC) today is pleased to announce that the momentum of T-Linx rollout continues and is now being used by Tianshan Rural Credit Bank of Xinjiang Autonomous Region (TRCB).

A 3 month pilot test has been conducted in a selected tourist site in Xinjiang Province. The outcome of the pilot run proved successful resulting in an official approval from the local government to continue the test run to potentially another 80 popular tourist attractions within the Xinjiang Autonomous Region.

This special T-Linx/tourist attraction program with TRCB will deliver a monthly service fee of RMB30,000 based on transaction history with fee income increasing in line with transaction volume and value.

FTC management believe the TRCB rollout of T-Linx will gain further traction when more merchants from other industries join.

Further there are more than 80 Rural Credit Banks in Xinjiang province. FTC will work closely and support those banks in any other rollout exercise.

The extreme volatility continues.

 

[barney]

Its not a Stock … its a yo-yo

 

[Ann]

Up 53.85% today after a late announcement after closing yesterday...

T-Linx rollout reaches ShanXi Province

 

[frugal.rock]

Its not a Stock … its a yo-yo

Yepp, walk the dog, rock the cradle, thread the needle.
If you have ever been to China, up until around 5 years ago, it was largely cash transactions.
Nowadays, the electronic age is catching up with phones being the platform. Rural areas are a big growth area imho.
I can only see this one getting fat on pork belly.
F.Rock

 

[frugal.rock]

Update.
Big day on the markets after the election eh!
Slower/lower volume of 1.1M for FTC today though.
Closed at 0.19, up 1c or 5.5%.
Seems like it's forming some resistance around 0.16 but that could change at the drop of a hat!
Cheers,
FRock

 

[frugal.rock]

Update.
So since the last post, there was a run up to around 0.21 for around a day and closed at 0.205 on 21/5.
I have been watching this stock closely and I have never felt more "hurded" than I do at the moment!
There's been a large sell down going on since Monday or so, maybe Friday... I forgot. Currently on 0.16 and was 0.155 at the start of this post.
Sitting waiting in the starting barrier's for the eminent definitive "YO" part of the yo-yo!
F.Rock

 

[frugal.rock]

Well, we got the "YO" part of the yo-yo on the Friday with preliminary results Ann. Any excuse for a run. Up nearly 25% in the blink of a eye with a quick retreat.
Hats off
3 cheers for Finny.
Now, when is that yoyo string gunna break?
FRock